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BMO Capital analyst Gary Nachman raised his price target on Pacira to $34 from $31, citing Friday's announcement of FDA approval of an upper extremity nerve block indication for Exparel on the PDUFA. Nachman says this was a "surprising outcome" given a negative panel decision in February, but adds that the indication is also narrow in that it is "limited to an intrascalene brachial plexus block". The analyst keeps his Market Perform rating on Pacira, stating that while Exparel is a " solid product for post-surgical pain, further penetration is challenging and consensus expectations remain high".

16

Apr

08

May

PCRXPacira

$33.30

3.8 (12.88%)

04/09/18

HCWC

04/09/18NO CHANGETarget $48HCWCBuy

Pacira price target raised to $48 from $45 at H.C. Wainwright

H.C. Wainwright analyst Oren Livnat raised his price target for Pacira Pharmaceuticals to $48 after the FDA approved an additional "narrow" nerve block indication for Exparel. The FDA added a specific interscalene brachial plexus block indication for regional anesthesia, effectively an indication for shoulder replacement or rotator cuff repair, Livnat tells investors in a research note. While a broad general nerve block indication would have been best case, and Pacira has to be careful not to promote off-label, this is still an "important positive," the analyst contends. He reiterates a Buy rating on Pacira shares.

04/09/18

JPMS

04/09/18NO CHANGEJPMSNeutral

Pacira nerve block approval a 'clear positive,' at JPMorgan

In a research note partially titled "Something's Better Than Nothing," JPMorgan analyst Chris Schott says Friday night's FDA approval for nerve block is a "clear positive" for Pacira Pharmaceuticals. He notes that the Street broadly expected a Complete Response Letter for Exparel in this indication. While the approval does not include a broad nerve block label, it does allow Pacira to target 1M shoulder blocks performed annually, Schott tells investors. However, the Exparel label update also included several failed nerve block studies that should limit off label use of the drug, the analyst adds. He keeps a Neutral rating on Pacira.

FDA approval of Pacira Pharmaceuticals' (PCRX) Exparel as a brachial plexus block "is something of a watershed" in that the agency has never before approved any local or regional anesthetic for a single, specific setting, Piper Jaffray analyst David Amsellem tells investors in a research note. He believes the approval suggests an increasingly aggressive FDA approach towards the opioid crisis. Amsellem points out, however, that feedback from his surgeon survey suggests a "strong degree of enthusiasm" for Heron Therapeutics' (HTRX) HTX-011. However, the feedback also indicates that non-opioid, post-operative pain space is not a zero-sum game, the analyst writes. He believes Exparel can grow "even amid greater competition." Amsellem reiterates an Overweight rating on Pacira with a $44 price target.

04/06/18

WEDB

04/06/18NO CHANGETarget $72WEDBOutperform

Wedbush says FDA response for Pacira's EXPAREL in nerve block due

Wedbush analyst Liana Moussatos reiterated an Outperform rating and $72 price target on Pacira Pharmaeuticals ahead of the expected PDUFA date for potential expansion of EXPAREL's label to specify nerve block. In a research note to investors, the analyst said she is "hopeful" that EXPAREL could potentially be used to provide improved outcomes in long-acting regional analgesia compared to infusion pumps or opioids. Whether required post-approval or in preparation for future regulatory review, she sees Pacira to continuing to evaluate EXPAREL in different nerve block techniques.